Drafting a Trust In Layton, Utah

Find the right Drafting a Trust attorney in Layton, UT

In Layton, Utah, a trust is a setup under which property is possessed by one person or entity, to be used for the benefit of another.

You might want to set up a trust for a wide variety of reasons. It can be set up to ensure that a child will have money for college, for example, and that the child will only be able to use the money for that purpose.

If you are a trustee, you can permit the beneficiary to access the trust under any conditions you see fit (or make it unconditional, if you want). The point is that, if you make sure the trust agreement is well-constructed, you can help the beneficiary in any way you like, secure in the knowledge that they won't be able (or will find it extremely difficult) to spend it on things you don't approve of.

The trust can also be set up to permit the beneficiary to spend as much of the money in it on anything they like. Of course, few people do this, because the trust isn't likely to last very long under such an arrangement, especially if the beneficiary is a teenager or young adult.

What to Include in Any Layton, UT Trust

There are 4 distinct elements that must be present for any trust to be valid in Layton, Utah. The first element is the purpose - in drafting a trust document, the purpose that the trust is serving must be expressed.

Second, there must be a trustee. This is the person who will administer the trust, and retain possession of the property or money that it contains, as well as being responsible for using it to effectuate the trust's purpose.

Third, the trust needs to have a named beneficiary. The beneficiary is the person who benefits from the trust.

Finally, the trust needs to have a corpus, or body. The "body" of the trust is the property that benefits the beneficiary, and that the trustee oversees. Obviously, there can be no trust without something being held in trust.

Can A Layton, Utah Trust Drafting Attorney Help?

While its' easy to list the basic elements that need to be present for a trust to be valid, the actual process of setting up a trust can be a little intricate. For that reason, seeking the counsel of a knowledgeable Layton, Utah attorney to help you set up a trust is probably a good idea.

Talk to a Wills, Trusts & Estates Law Attorney now!

Life in Layton

Layton, Utah is a city located in Davis County. It has a population of about 60,000 people.

Layton, Utah is named after Christopher Layton, a Mormon missionary and early settler of the region. In the decades after its founding, Layton's growth in population and wealth was slow but steady. However, the establishment of Hill Air Force Base nearby, followed almost immediately by America's entry into WWII, led, almost overnight, to a huge spike in population, changing the face of Layton forever. War workers streamed into the area, transforming Layton from a small agricultural community to a bona fide city.

After the war, growth slowed, but continued to be fueled by the growth of nearby Salt Lake City, for which Layton is now a major "bedroom community" (a town on the outskirts of a much larger city, serving largely as a residential area for people who work in the city).

Thanks to its proximity to Salt Lake City, Layton is home to a thriving legal community. If you are facing a legal issue, there is almost certainly a Layton, Utah lawyer who can help you solve it.

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